If a country has a net capital inflow, it means they have:
A. more exports than imports.
B. a trade deficit.
C. a trade surplus.
D. more capital goods flowing into their country than out of it.
Answer: B
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The market demand curve in perfect competition is found by
A) horizontally summing the supply curves of the individual firms in the industry. B) horizontally summing the demand curves of the individual consumers. C) utility maximizing behavior of the "representative consumer." D) the interaction of supply and demand at the individual firm and consumer levels.
The most significant expansion of Medicaid since its inception occurred in 1997 and is referred to as
a. SCHIP. b. SHIP. c. TANF. d. AFDC.
Dr. Rand earns $420,000 per year. He is charged a 20% tax on the first $100,000 he earns. He is charged a 30% tax for any income he earns between $100,000 and $250,000, and he is charged a 38% tax on anything he earns over $250,000. How do we find his average tax rate?
a. Add 20% of $100,000, 30% of $150,000, and 38% of $170,000, and then divide the total by $420,000. b. Subtract 20% from 38%, divide the amount by $420,000, and then add 30% of $250,000. c. Multiply $420,000 times 20%, 30%, and 38%, add them up and divide the total by three. d. Add 20%, 30%, and 38%, divide by three, and multiply that amount times $420,000.
The funds used to purchase capital goods are called
A) investment. B) savings. C) financial capital. D) dividends and interest.